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monday. thanks for joining us. >> pope benedict said he is resigning as leader of the catholic faith. >> st. peter's square, cardinals will convene to elect a new pope. amy is live at the cathedral in san francisco with the latest. amy? >> it happened at 2:00 a.m., our time, so, safe to say a lost catholics in san francisco have not heard yet. they will not be alone if their shock. a spokesman says even they were caught by surprise. here is video of the announcement made this morning. this is the pope making the announcement in latin, pope benedict xvi saying he will resign february 28 because of his deteriorating health. the pope is 85. he says he had to recognize "my incapacity to adequately fulfill the ministry," the first pope to resign since 1415, that is why this is a bit shocking to everyone around the world. pope benedict was elected in 2005, formally known as cardinal joseph ratzinger. the vatican will be able to elect a new pope by march because they do not have to observe the traditional mourning time that follows the death of a pope. this is breaking news, just happening,
about 100 miles north of tokyo. no damage reported at nuclear plants. >>> pope benedict, in his final week of his papacy. his resignation becomes official on thursday. about 100,000 people were there for his final sunday blessing. today, he's expected to issue new rules allowing the cardinals to bring forth the start of the conclave which will elect the next pope. >>> to washington, where it's four days until the automatic spending cuts kick in. the president is warning about devastating consequences. still, there's no deal on the table. tahman bradley reports from washington. >> reporter: democrats and republicans are set to introduce proposals to stop the across the board spending cuts. neither side thinks a bill can get through congress before friday's deadline. >> unless the republicans are willing to compromise, and do a balanced approach, i think it will kick in. >> it will kick in. >> reporter: president obama is turning up pressure on congressional republicans with his administration details how the program cuts will affect spending in every state. >> thousands of educators wi
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